3 months ago
1
Finance Minister Nirmala Sitharaman, connected Sunday (February 1, 2026), announced the ‘Mahatma Gandhi Gram Swaraj Initiative’ successful the Union Budget 2026-27 to fortify khadi and handicrafts successful the country. The inaugural volition streamline the accumulation and manufacturing of khadi clothes. This volition “benefit our weavers and our youth,” said Ms. Sitharaman.
Finance Minister Nirmala Sitharaman was presenting her ninth budget successful Parliament.
Also Read |Union Budget 2026 live
The Union Budget 2026-27 was keenly observed by economical and governmental experts to gauge the wellness of the system successful the fiscal twelvemonth to come.
India besides marked the decease day of Mahatma Gandhi, connected January 30, days earlier the announcement of the Gram Swaraj Initiative.
In 2025, the Khadi and Village Industries Commission (KVIC) reported a grounds turnover of ₹1.70 lakh crore for the fiscal twelvemonth ending successful 2025, and acceptable a people of ₹2 lakh crore for the 2025–26 period.
Finance Commission Report
The Sixteenth Finance Commission study for 2026-31 was besides tabled successful the Parliament by Ms. Sitharaman earlier the presenting of the all-important Budget.
In November 2025, the Sixteenth Finance Commission, chaired by economist Arvind Panagariya, submitted its study to the President of India, the bureau of the President.
Apart from deciding connected the Centre-States taxation division, the 16th FC was besides tasked with recommending the principles that should govern the grants-in-aid transferred by the Centre to the States.
Ninth Budget by Nirmala Sitharaman
This is the ninth fund that Finance Minister Nirmala Sitharaman is presenting successful the parliament. 2026 is the archetypal twelvemonth successful which the caller ‘Kartavya Bhavan’ successful New Delhi is being utilized to contiguous the Union Budget, marking a displacement from the Ministry of Finance office from North Block to the recently constructed building.
The Finance Minister met with Indian President Droupadi Murmu earlier announcing the Budget. Ms. Murmu fed Ms. Sitharaman the customary ‘dahi-cheeni’ earlier the second proceeded to contiguous the fiscal document.
